Question 1

Marketing tactics refer to the

Accepted Answer

A)   long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)   detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)   steps taken to develop an effective marketing plan.
D)   development of marketing strategies to achieve the organization's marketing objectives.
E)   refinement of the organization's mission based on the results obtained from a marketing audit.F) None of the above
G) A) and B)

Question 2

The __________ element of the marketing mix includes personal selling and advertising.

Accepted Answer

A)   product
B)   price
C)   promotion
D)   place
E)   peopleF) B) and D)
G) B) and C)

Question 3

The marketing program,Step 3 in the strategic planning process,answers which question?

Accepted Answer

A)   who
B)   what
C)   when
D)   why
E)   howF) A) and E)
G) None of the above

Question 4

The initial step in the strategic marketing process is to begin planning by conducting a

Accepted Answer

A)   business portfolio analysis.
B)   market-product analysis and setting goals.
C)   marketing program.
D)   situation (SWOT)  analysis.
E)   diversification analysis.F) A) and D)
G) A) and E)

Question 5

The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization.Dogs are located in which quadrant of the BCG growth-share matrix?

Accepted Answer

A)   upper left quadrant
B)   upper right quadrant
C)   center of the four quadrants
D)   lower right quadrant
E)   lower left quadrantF) D) and E)
G) B) and E)

Question 6

Figure 2-1 
-In Figure 2-1,B represents the

Accepted Answer

A)   functional level.
B)   board of directors.
C)   corporate level.
D)   department level.
E)   strategic business unit level.F) C) and D)
G) B) and D)

Question 7

A __________ is a federal,state,county,or city unit that provides a specific service to its constituents.

Accepted Answer

A)   business firm
B)   subchapter S corporation
C)   government agency
D)   cooperative
E)   nonprofit organizationF) A) and D)
G) A) and E)

Question 8

Statements of an accomplishment of a task to be achieved,often by a specific time are referred to as

Accepted Answer

A)   plans.
B)   procedures.
C)   strategies.
D)   core values.
E)   goals.F) All of the above
G) A) and B)

Question 9

Profit refers to

Accepted Answer

A)   the point at which a company's assets equal its liabilities plus shareholder equity.
B)   the difference between the list and final price of a product or service.
C)   the money earned when the economic order quantity is minimized.
D)   the money left over after a business firm's total expenses are subtracted from its total revenues.
E)   the total amount of revenue accrued through product sales or service distribution.F) C) and D)
G) A) and B)

Question 10

Because an organization has limited influence on market growth rate,its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share.The most likely way for a company to turn a question mark into a star rather than a dog is to

Accepted Answer

A)   divert funds to other SBUs.
B)   reduce advertising for it.
C)   inject cash into it.
D)   reduce the feature set for it.
E)   decrease the market growth rate.F) B) and E)
G) B) and D)

Question 11

Figure 2-3a 
-The single measure that is shown in Figure 2-3a as part of a larger marketing dashboard is referred to as

Accepted Answer

A)   trend analysis.
B)   a marketing measurement.
C)   a marketing gauge.
D)   a marketing metric.
E)   value analysis.F) B) and E)
G) A) and B)

Question 12

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Accepted Answer

A)   handing out "Smarter Planet" T-shirts on selected college campuses through the world
B)   providing samples of new hard drives for New York City businesses
C)   sponsoring the U.S. swim team for the 2012 Summer Olympics
D)   including a strong message in an annual report from IBM's chairman of the board and CEO
E)   garnering a celebrity endorsement from Jon Stewart, the then-host of "The Daily Show"F) B) and E)
G) B) and D)

Question 13

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Accepted Answer

A)   product development
B)   product-market evolution
C)   market development
D)   market penetration
E)   diversificationF) A) and B)
G) B) and D)

Question 14

Figure 2-4 
-In Figure 2-4,SBUs found in quadrant C would be called

Accepted Answer

A)   cash cows.
B)   stars.
C)   question marks.
D)   dogs.
E)   hedgehogs.F) B) and C)
G) C) and D)

Question 15

A marketing plan refers to

Accepted Answer

A)   the long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)   a technique that marketing managers use to quantify performance measures and growth targets to analyze their firm's strategic business units (SBUs)  as though they were a collection of separate investments.
C)   a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
D)   the detailed day-to-day operational decisions essential to the overall success of marketing strategies.
E)   a road map for the entire organization for a specified future period of time, such as one year or five years.F) B) and D)
G) B) and C)

Question 16

The corporate level of an organization is the

Accepted Answer

A)   functional level.
B)   proxy for the board of directors.
C)   level of top management that directs overall strategy.
D)   most independent level of the business.
E)   strategic business unit level.F) B) and C)
G) A) and B)

Question 17

An organization's competencies include all of the following except which?

Accepted Answer

A)   profit
B)   customer service
C)   technologies
D)   resources
E)   employee skillsF) A) and B)
G) A) and D)

Question 18

The marketing strategy of developing new products and selling them in new markets is referred to as

Accepted Answer

A)   product penetration.
B)   product development.
C)   market development.
D)   market penetration.
E)   diversification.F) C) and D)
G) A) and B)

Question 19

Step 2 in the planning phase of the strategic marketing process consists of

Accepted Answer

A)   the situation (SWOT)  analysis.
B)   market-product focus and goal setting.
C)   the marketing program.
D)   business portfolio analysis.
E)   diversification analysis.F) A) and D)
G) A) and C)

Question 20

One way a company can benefit from implementing a market penetration strategy would be to

Accepted Answer

A)   sell more products at a lower price in new markets.
B)   sell the same amount of product at a higher price in the same market.
C)   find a new market and sell the product at a much higher price.
D)   alter the product and sell it to a new market.
E)   reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets.F) A) and B)
G) A) and C)

Exam 2: Developing Successful Organizational and Marketing Strategies

Profit refers to

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The initial step in the strategic marketing process is to begin planning by conducting a

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A marketing plan refers to

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The corporate level of an organization is the

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The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Correct AnswerverifiedShow Answer

The marketing strategy of developing new products and selling them in new markets is referred to as

Correct AnswerverifiedShow Answer

Statements of an accomplishment of a task to be achieved,often by a specific time are referred to as

Correct AnswerverifiedShow Answer

A __________ is a federal,state,county,or city unit that provides a specific service to its constituents.

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Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

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Marketing tactics refer to the

Correct AnswerverifiedShow Answer

Figure 2-3a -The single measure that is shown in Figure 2-3a as part of a larger marketing dashboard is referred to as

Correct AnswerverifiedShow Answer

An organization's competencies include all of the following except which?

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Because an organization has limited influence on market growth rate,its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share.The most likely way for a company to turn a question mark into a star rather than a dog is to

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One way a company can benefit from implementing a market penetration strategy would be to

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Step 2 in the planning phase of the strategic marketing process consists of

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization.Dogs are located in which quadrant of the BCG growth-share matrix?

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The __________ element of the marketing mix includes personal selling and advertising.

Correct AnswerverifiedShow Answer

Figure 2-1 -In Figure 2-1,B represents the

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The marketing program,Step 3 in the strategic planning process,answers which question?

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Figure 2-4 -In Figure 2-4,SBUs found in quadrant C would be called

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